Financial Statement Fraud Report

Phar-mor was a discounted drug store that was found by Micheal Monus and David Shapira in 1982 which was based in Youngstown, Ohio. Their low prices brought in an enormous amount of sales. Phar-Mor became one of the top ten discounted drug stores in the United States.  Some of their common slogans were “Phar-Mor power buying gives you Phar-Mor buying power” and “Phar-Mor For Less.” In just seven years after it was founded, it opened up more than 300 locations in 34 different states. Phar-Mor grew very rapidly and became very successful. It’s main competitor was Wal-Mart. Phar-mor was operating in a very

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